Taxability of the Compensation of Employees

  Compensation income is an income which arises from an employer-employee relationship. This includes income such as: • Salaries • Wages • Emoluments and honoraria • Commissions • Taxable bonuses …

Tax-Exemption of Separation Pays

  Separation pay is the amount due to employees who have been terminated from service/employment due to reasons allowed by law and not due to the wrongdoings of the employees. …